Lomax Distribution Parameters Estimation Using Different Methods

The objective of this book is to estimate the parameters of Lomax distribution with shape parameter(α) and scale parameter(λ) and also estimate control limits of Moving Average control chart for Lomax Distribution. In this heuristic algorithm the Median Rank Regression Method Least Squares Regression Method and Maximum Product Spacings Methods are used to estimate the parameters of Lomax Distribution. We also computed Average Estimate (AE) Variance (VAR) Mean Absolute Deviation (MAD) Mean Square Error (MSE) Relative Error (RE) and Relative Absolute Bias (RAB) for both the parameters under grouped sample based on simulations to assess the performance of the estimators and also compared three methods estimators.Keywords: Lomax Parameters Grouped sample Median Rank Regression method Least Square Regression method Maximum Product Spacings method simulation control limits.